Peakstone Realty Trust completed the acquisition of 51-property portfolio from a joint venture between Alterra IOS and institutional investors advised by JP Morgan Asset Management for $490m.

Peakstone Realty Trust, a real estate company that manages industrial and office REITs, completed the acquisition of 51-property portfolio from a joint venture between Alterra IOS, an industrial outdoor storage company, and institutional investors advised by JP Morgan Asset Management, an asset manager, for $490m. “This significant portfolio sale to a publicly traded REIT underscores the success of Alterra’s investment strategy, which we have refined for nearly a decade, and further advances the institutionalization of the IOS asset class. We believe this is just the beginning as more institutional investors seek scale in the highly fragmented IOS sector, and we look forward to continuing to pursue growth opportunities as market fundamentals remain strong,” Leo Addimando, Alterra CEO and Managing Partner and Matt Pfeiffer, Alterra CIO and Managing Partner.